The Iraqi Ministry of Oil said on Saturday it plans to discuss new mechanisms to export oil through Turkish Ceyhan oil hub after the country won a lawsuit against Turkiye.
In a statement, the ministry welcomed the final ruling issued, Thursday in Paris, by the International Chamber of Commerce’s International Court of Arbitration that asked the Turkish government to abide by Iraq’s government instructions regarding its crude oil export.
The ruling calls on all parties to respect international agreements and conventions in this regard, the ministry stressed.
Through the official Iraqi Oil Marketing Company (SOMO), the Ministry of Oil is the only entity authorized to manage export operations via Ceyhan Port, according to the statement.
The ministry indicated that it would discuss new mechanisms to export Iraq’s oil, through Ceyhan, with the concerned bodies in Iraq’s Kurdistan region and Turkish authorities in line new measures in a way that ensures sustainability of Iraq’s oil export.
The statement stressed deep-rooted relations between Iraq and Turkiye, indicating that the ruling does not make any barrier for developing and expanding bilateral ties to serve their common interests.
Some oil produced from Iraq’s northern wells was exported and sold through Ceyhan Port without informing the Iraqi ministry.
Source: Kuwait News Agency